car company Toyota is shutting down two elevators at its global headquarters to save money. world's largest automaker said on Thursday it will shut down two of eight elevators at its main Tokyo office. This is to save electricity and to cut down on costs of operating building. One reason for this new move is strengthening Japanese yen. The yen has become much stronger since UK voted to leave EU on June 23rd. One dollar bought nearly 120 yen in January; now it buys just above 100. stronger yen means Toyota cars sold overseas are more expensive and profits go down. Toyota's profit for year ending March 2016 was record ¥2.31 trillion, which is around $23 billion.
Toyota spokeswoman said company decided to shut down elevators several weeks ago because of rising yen. The company is also adjusting the temperature of air conditioners to save money. The spokeswoman said Toyota took similar cost-cutting measures after financial crisis that happened in September 2008. That also made yen strengthen against the dollar. The spokeswoman said: "These policies are not new." She added: "The key objective for stoppage of elevators specifically is to raise awareness amongst employees, and to remind them of the commitment that Toyota has towards idea of increasing competitiveness through staying lean and reducing waste."
